Brief: Dragon King Says Law Enforcement Officers Visited Offices To Execute Search Warrants On Dec 15

Scorching Dragon Holdings

22/12/2021 14:22

Dec 22 (Reuters) - Dragon King Group Holdings Ltd  8493.HK :
    * OFFICERS OF LAW ENFORCEMENT BODIES VISITED GROUP'S OFFICES
TO
EXECUTE SEARCH WARRANTS FOR CERTAIN INVESTIGATION ON DEC 15
    * INVESTIGATION WAS FOR SUSPECTED OFFENCES RELATING TO
ALLEGED
MONEY LAUNDERING AND OTHER ALLEGATIONS
    * HAS COME TO CO'S KNOWLEDGE THAT SOME BANK ACCOUNTS OF
GROUP WERE
FROZEN
    * CHAIRMAN, CEO AND EXECUTIVE DIRECTOR OF CO WAS ARRESTED BY
POLICE FOR INVESTIGATION ON 15 DEC
    * GROUP'S CERTAIN DOCUMENTS, ELECTRONIC DEVICES AND COMPUTER
RECORDS WERE SEIZED
    * CHAIRMAN WAS SUBSEQUENTLY RELEASED ON BAIL WITHOUT ANY
CHARGE
LAID AGAINST HIM
    * NOT CURRENTLY AWARE OF MATTERS SUGGESTING INVESTIGATION
MAY BE
DIRECTLY RELATED TO PRINCIPAL BUSINESS ACTIVITIES, OPERATIONS &
ASSETS OF GROUP
    * BUSINESS OPERATIONS AND FINANCIAL POSITION OF GROUP MAY BE
MATERIALLY AND ADVERSELY IMPACTED BY INVESTIGATION

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